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Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
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Name : |
EXPORTADORES DEL AGRO S.A. |
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Registered Office : |
Av. Senador Jaime Guzmán Errázuriz 3180 - Renca Santiago XIII Region Metropolitana |
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Country : |
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Date of Incorporation : |
17.07.1984 |
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Legal Form : |
Private Stock Company |
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Line of Business : |
Trade and export of agricultural products (dry and fresh fruit, mushrooms, legumes, raisins, plums, honey, spices, sugar, sweet briar, and others. |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
IDENTIFICATION
T A X : 95.891.000-2
EXPORTADORES DEL AGRO S.A.
( AGROPRODEX INTERNACIONAL S.A. )
Av. Senador Jaime Guzmán Errázuriz 3180 - Renca
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-6542800, 56-2-6542820
Fax : 56-2-6542890
E_Mail :
exporta@agroprodex.cl, gerencia@agroprodex.cl
Web Site :
www.agroprodex.cl
Postal Code : 8640562
SUMMARY
Started
: 1984
Total
Employees
: 500
Payments
: Prompt
Capital
:
000's$ 120.000.-
Sic(s) : 0175 - 0179
Line of Business: Trade and export of agricultural products.
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value :
487.500
1.000
764
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL
INFORMATION
Commercial Bulletin : As at 13/06/2012 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor Bulletin : As at 13/06/2012 does not register labor
infringements
Previsional Bulletin :
As at 13/06/2012 does not register pension fund's
infringements
Consolidated delinquency : As at 13/06/2012, subject does not register any
delinquent bill
TRADE REFERENCES
Trade references are supplied as follows:
Detail
of References
Old : Since
2003
Last purchase : 06-2011
Terms : 30 days
Payment : Slow
Notes : invoice
Credit : (000'sUS$) 1.000
Owes : -
Due : -
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 300
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2003 06-11 Slow
invoice
1.000
-
3 years 02-06 Prompt not
specified
-
-
5 years 02-06 Prompt not specified
-
-
During the last 6 months, the account holder credit history shows 38 credit
review inquiries requested by banks, workmen's compensation agencies,
telecommunications companies, and other busiensses in general.
The account holder credit report reflects no delinquent payment history, no
protests, and no social
security and/or work infringements as of the date of
this report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
- Banco de Chile
- Banco Santander Chile, branch Panamericana Norte.-
- BancoEstado
- Corpbanca
OPERATIONS
Line of Business : Trade
and export of agricultural products (dry and fresh
fruit, mushrooms, legumes, raisins, plums, honey, spices,
sugar, sweet briar, and others.
Classification according to commercial activity:
Sic: 0175-0000 Deciduous tree fruits
-9910 Prune orchard
Sic: 0179-0000 Fruits and tree nuts, not elsewhere classified
Subject is considered as a large company in this line of business, strong
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 40%.
International: 60%.
Sales conditions: Letter of credit and collection.
Exports to Germany, Algeria, Australia, Brazil, Colombia, South Korea, Costa
Rica, Ecuador, El Salvador, United Arab Emirates, Spain, Estonia, Georgia,
Guatemala, India, Jordania, Latvia, Mexico, Panama, Peru, Poland, Czech
Republic, Romania, Russia, Taiwan, Trinidad & Tobago, Tunisia, Turkey,
United
States, Ukraine, Uruguay and Venezuela.
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Colombia
14,74 23,33
Germany
13,20 8,53
Poland
12,16 19,85
United Arab
Emirates
7,55 0,00
Russia
7,00 3,71
Ecuador
6,46 6,39
Turkey
5,21 3,74
Venezuela
4,57 0,00
Costa
Rica
3,53 6,85
Taiwan
3,49 0,00
Spain
2,62 0,00
Latvia
2,58 0,00
Peru
2,39 0,00
Australia
2,20 7,94
Panama
2,09 0,00
United
States
1,82 12,17
Algeria
1,39 0,00
Jordania
1,36 0,00
Ukraine
1,14 3,71
Georgia
0,57 0,00
Tunisia
0,54 0,00
South
Korea
0,53 0,00
Mexico
0,53 0,00
El
Salvador
0,47 0,00
Czech
Republic
0,43 3,72
Brazil
0,42 0,00
Trinidad &
Tobago
0,28 0,00
Estonia
0,25 0,00
Romania
0,23 0,00
India
0,12 0,00
Guatemala
0,07 0,00
Uruguay
0,05 0,00
Historical registries
Total 2011 = 000's$ 9.308.337 Accumulated 2012 = 000's$ 594.066
Total 2010 = 000's$ 9.119.708
Total 2009 = 000's$ 7.975.281
Total 2008 = 000's$ 12.900.339
Total 2007 = 000's$ 7.442.606
Total 2006 = 000's$ 6.963.740
Total 2004 = 000's$ 6.098.671
Customers
Main customers are: Supermarkets.
The 3 most important customers are:
Walmart Chile S.A, Hipermac S.A., Cencosud Retail S.A.
Purchases
Places orders with multiple suppliers
National: 80%
Purchase conditions: Cash and term payments to 30 days.
International: 20%
Purchase conditions: Letter of credit.
Imports from Argentina, Belgium, Brazil, Canada, Chile, China, India, Iran, Sri
Lanka, Thailand, Turkey, United States and Uruguay.
Records of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Argentina
39,74 48,34
Canada
36,66 39,59
Thailand
9,85 0,00
Brazil
3,95 0,00
Sri
Lanka
3,75 11,60
Uruguay
2,81 0,00
Chile
0,99 0,00
India
0,84 0,00
Turkey
0,73 0,00
China
0,43 0,00
United
States
0,21 0,45
Belgium
0,04 0,00
Iran
0,00 0,00
Historical registries
Total 2011 = 000's$ 2.978.755 Accumulated 2012 = 000's$ 415.088
Total 2010 = 000's$ 3.251.202
Total 2009 = 000's$ 2.910.225
Total 2008 = 000's$ 5.438.622
Total 2007 = 000's$ 3.254.219
Total 2006 = 000's$ 2.386.733
Total 2004 = 000's$ 1.803.734
Main suppliers
- Basf Chile S.A.
- Bayer S.A.
- Distribuidora Papeles Industriales S.A.
- Empresa Nacional de Energia Enex S.A.
Employees: 500 permanent employees
Location
- Administration located at Av. Senador Jaime Guzmán Errázuriz 3180 Renca
Santiago, Chile, commercial area, secondary avenue of normal
traffic,
construction in good conditions
Branches
- Plant at Ruta 5 Sur, Km. 42 Paine Chile
- Plant at Carretera General San Martín, Km. 14 San Felipe Chile
- Plant at Longitudinal Sur Km. 300 Linares Chile
- Plant at Panamericana Sur, Km. 402, 1955 Chillán Chile
RELATED COMPANIES
Subject is related with the following company:
- Conal Ltda.
FIXED ASSETS
Real estates
Subject registers real estates
- Industry, Av. Senador Jaime Guzmán 3280 Renca Santiago-Chile, Fiscal
value of
000's$ 121.166.-, rol Nº 356-32
- Branch, Panamericana Sur, Km. 402, 1955 Chillán-Chile, Fiscal value of
000's$
342.218.-, rol Nº 14.209-27
- Premises, Manuel Antonio Matta 3180 Renca Santiago-Chile, Fiscal value
of
000's$ 250.165.-, rol Nº 356-16
- Industry, Longitudinal Sur Km. 511 Los Angeles-Chile, Fiscal value of
000's$
66.745.-, rol Nº 1.535-394
- Farming exploitation, Parcela 4 Lotes 3-2 Proyecto Curimón en San
Felipe-Chile, Fiscal value of 000's$ 7.684.-, rol Nº 405-29
- Home, A. Pepper 1967 Renca Santiago-Chile, Fiscal value of 000's$
9.922.-,
rol Nº 356-175
- Parking lots, Huérfanos 645 Box 559 Santiago-Chile, Fiscal value of
000's$
6.149.-, rol Nº 121-791
Total fiscal value : $ 804.050.275.-
Vehicles
Owns vehicle for the company's use
14 trucks .
Machinery & Instalations
Own equipment
- Dehydrators , conveyor belts , selecting machines , fruits' measurer ,
etc.
INSURANCES
Insurance Company:
-Chilena Consolidada Seguros Generales S.A.
Due
: Unspecified due dates
In force : Annual
Risks :
Various risks.
Objetive : Inventory,
equipment.
BOARD OF DIRECTORS
President
: Jorge Batarce Zerené
ADMINISTRATION
General manager & : Alejandro
Rafael Batarce Mufdi TAX:8457414-7
Admin.& finances Mgr
Production Manager : Roberto Patricio
Batarce Mufdi TAX:8543855-7
Export Manager : Marcelo Eugenio Batarce Mufdi TAX:7918024-6
Sales Manager
: Santiago Kejevich
Controller
: Mario Fuentes
CURRICULUM
Alejandro Rafael Batarce Mufdi
T A
X
: 8457414-7
Position :
General manager & Admin.& finances Mgr
Roberto Patricio Batarce Mufdi
T A
X
: 8543855-7
Position :
Production Manager
Marcelo Eugenio Batarce Mufdi
T A
X
: 7918024-6
Position :
Export Manager
LEGAL INFORMATION
Legal Structure :
Private Stock Company
Constitution date :
17/07/1984. Registered on leaf 10.075 N° 5.550 Santiago
Trade Registry year 1984.-
Notary
: Gastón
Santibáñez Soto, Santiago
Term of duration
: Indefinite
Legal Address : Santiago - Chile
Published in : Official Gazette dated 23/07/1984 page Nº 10
Current Social Capital: 000's$ 120.000.-Divided to 234.406.- registered shares
unique series
Social Initial Capital: 000's$ 40.000.-
Administration is held by General Manager.
Legal changes
Public Deed dated 28/08/1985, notary Víctor Manuel Correa Valenzuela, Santiago,
published in the Official Gazette dated 24/09/1985 page N° 7, statutes were
modified: a new rewritten text of statutes was registered indicating a capital
of $ 40.000.000 divided into 100.000 no par value shares, completed as follows:
Jorge Batarce Zerené 12.500 shares, Ema Mufdi Cizmar 75.000 shares, Alejandro
Rafael Batarce Mufdi 6.250 shares, Roberto Patricio Batarce Mufdi 6.250
shares.-
Public Deed dated 25/03/1988, notary Víctor Manuel Correa Valenzuela, Santiago,
published in the Official Gazette dated 26/03/1988 page N° 6, capital was
increased: from $ 43.179.041 (duly revalued) to $ 120.000.000 divided into
234.406 no par value shares.-
Public Deed dated 15/11/2001, notary Eduardo Avello Concha, Santiago, published
in the Official Gazette dated 27/12/2001 page N° 14, board of directors was
modified: , which remaines formed by 3 members who shall be in their positions
for 3 years.-
*** Shareholders' listing was not available.
INFORMATION SOURCES
On 11/04/2012 Mr. Mario Fuentes, Controller, declined financial figures,
however, submitted the data shown in this report.
-Other outside information sources.
Exchange rate
-As at 12/04/2012 $487,37 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.59 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.